My history class is amazing! I'm learning so much it isn't even funny. While I am learning about WWI and Basic Economic Systems, however, President Obama is getting ready to get a trillion dollar 'stimulus package' (aka spending bill) through the Senate and House of Representatives. As one cross letter writer in my city states:
The bill represents the biggest single expenditure in American history - ever. It's price tag with interest is well over $1 trillion. Here's some perspective: Everyone concedes that George W. Bush spent too much money. But it took the Bush administration more than two years and a global war on radical Islamic terrorism in the wake of the 9/11 attacks to increase the national debt by more than $1 trillion. President Obama is on track to do it in his first month in office!
Everyone agrees that the American Economy is in bad shape. Our nation is $10,716,892,995,970.23 (~10.7 trillion dollars) in debt. Not a good thing. Yes, we need stimulation.
But our well-meaning president apparently hasn't studied his history. Massive amounts of spending isn't going to make anything better. Neither is printing more money. Perhaps those folks in Washington should get an overview of Laissez Faire Economics.
Laissez Faire basically says that it is not the governement's business to tell businesses how to run their business, nor is it the government's job to regulate intrest rates and economics. Doubtless, there are downsides to LF, but I must agree with it for the most part. Government is the problem, not the solution, and should keep its nose out of most things.
There was a president in our history who simulated the economy very nicely. His name was John Calvin Coolidge. He was born in 1872 and died in 1933. He was originally Warren Harding's VP, but when Harding died on tour in 1923, Coolidge took over, ran for office in 1924, and served a term as president.W. Harding had begun a legacy of cutting government down, and Coolidge continued that. He understood the bonds placed on government by the Constitution, and kept the government within them.
The government has (or at least had at the time) its budget divided into thirds. Two thirds were fixed, and the other third was labled 'discretionary spending.' He decided to cut that and did. By 60%. We had an incredible time of prosperity. The economy was, for the most part, in wonderful shape.
Cutting spending. What a novelty! Thankfully, many people realize what this so called 'stimulus' bill really is and aren't happy about it. I really must wonder, what if our government quit spending so much. What if we could get rid of the very unconstitutional income tax? What if people quit sitting on their rear ends getting fat off of checks from the government and actually applied themseves to a job? Maybe then people could flourish. Maybe then we wouldn't 'need' all these illegal workers etc. Every American would currently have to pay ~$35,000 to get our nation out of debt. Could we maybe not make that price tag any higher?? Could we maybe lower it?